EU slaps Greece with $453 million fine for farm subsidy fraud
The European Commission has imposed a fine of €392.2 million (approximately $453.4 million) on Greece over a large-scale agricultural subsidy fraud dating back to 2016, according to local media reports on Tuesday.
The fine stems from major oversight failures by OPEKEPE, the state agency responsible for managing EU agricultural subsidies in Greece, News.Az reports citing foreign media.
The agency was dissolved in May after it was discovered that funds had been misused through fictitious pastures and fraudulent agricultural activities, according to the daily Kathimerini.
The report said the penalty will likely be paid from the state budget, as no individual farmers have been formally found in violation, and the government failed to conduct inspections during the relevant period.
Citing industry insiders, Kathimerini noted that the fine may only be the beginning, warning that additional EU penalties could follow as further damages are uncovered.
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